U.S. Natural Gas Prices Are at a 3-Year Low
- Prices have fallen for a fifth straight trading session
- Weekly gain in U.S. stockpiles may be quadruple the average
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Natural gas futures tumbled to the lowest in almost three years as U.S. shale output swamps the market amid mild spring weather, soothing concern about a potential supply crunch next winter.
A seasonal lull in heating and cooling demand, coupled with surging production, is accelerating gains in stockpiles of the fuel in underground caverns and aquifers. While inventories are more than 30 percent below normal, they’re poised to refill quickly: Analysts predict that stored supplies probably rose by more than quadruple the average last week.